The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1887-12-16

merchandise increased from $685.
486,l86 in 1886 to 1902, ,3l9, 76s in
1887, being an increase oi S56 SS3,
632, or 9 per cent, of which $22,06l,-
831 represents the increase In the value
of free merchandise, and SS4,s21, ,797
the increase in the value of dutiable
imports.
CURRENCY CIRCULATION.
The circulation Of coin and paper in
denominations of twenty dollars and
less, from July l, 1886, to November
i, 1887, shows a net increase of about
S1O9, 100000; thus nearly the whole
of the increased circulation was in the
form OF small money. The increase
in the total circulation was caused by
ordinary payments made IN pursuance
of law, by the purchase of bonds, and
by increasing deposits iu national bank
repositories. The increase in the cir
oulation of small money was because
the government met the peoples ie-
qnes, for it no far as it could But for
the lack of sufficient appropriation
tor the Bureau of Engraving and
Printing, the circulation of small cur
rency, particularly in the form of sill
yer certificates, would have been much
greater. 1t has been impossible to
more rapidly supply the demand for
that kind of currency.
After deducting the gold and silver
coin, held for the gold aud silver Ger
ti6cates in circulation. it ia found that
the government owned $3n,S27, 1893 less
gold coin and $39. 675.76 less standard
silver dollars on November 1, 1887,
than it did on July /, 1886 during the
intervening period S43, 1861 stan
dard silver dollars were coined.
As there is still 80 much coined gold
owned by the government, 1882 657,-
$50, Nov. /, 18S7).it has been thought
best to allow the gold to accumu-
late in the form OF bullion, until there
is need of gold coin.
The statements Of the Treasurer
show that after drducting the demand
and trust liabilities of the government
and the amount of money on deposit
in national bank repositories the ne,
money in the Treasury vaults was
S92, ,496, 704 Sc on June 80, 1885
D tober 81, 1887 it was $49, ,36l..
II.
1t is waste to coin and store any
more silver dollars at present. There
is no function which those that are
; coined after this time will probably
: ever perform, except to lie in govern
, ment vaults and be basis upon which
: silver certificates can be issued. 1t il
, seldom that any one wishes to have
, his silver certificate exchanged for the
: silver dollar Itself, consequently &
= limited number of coined dollars vii
perform the work of iedeeming certifi
) Gates. The $2l4,000,O0O which ar,
2 now in the Treasury will more thar
suffice to redeem, as they may be pre-
r sent, d from time to time, the silve
0 certificates that baye already beeI
' issued or that can be issued against al
the dollars which will be coined fo
h years to come under the present law
q The law should lie so amended as t,
II authorize the Secretary of the Treasur
n to issue certificates against the coming
| value of the bullion bought and t
Q coin only such number of dollars a
y he might deem expedient hereafter.
e NATIONAL BANKS.
>, During the year ending October 81
IL 1887, there have been 225 new bank
organized capital, $50, SAG, 900; circu
'e lation, $4,69O,375.
:. Thirty three banks have been close
81 during the same period, of whic
twenty-five have gone into voluntar
! liquidation and eight have failed
+ !. These thirty three banks had an aggr'
J" gate capital of $4,087,450 and the
- outstanding circuiation amounts
u Sl,l22,936.
+ The total number of national bank
organized to date has heen 3,S05, :
u which 3,219 have been formed undt
10 the acts of Congress and $50 ba,
81 been converted from State institution
'e n Of the first class $50 have gone in,
10 voluntary liquidation and 100 ha,
failed, leaving in existence 1858.
~ y Of the second class SO have gor
u into voluntarily liquidation and !
.e have failed, leaving in operation 40
sse Total in operation, 5,06l, being tt
W largest number yet reached. TT
~ =, following named items show net u
40 40 crease during the year, viz: Capt.
0e U stock, $3O,572 1925; surplus. $l6,664
&c 250.10; deposits, $76, ,50S,818.31.
u IL The decrease during the year
u United Stats bonds neld for all pu
y' poses is $S2, ,505,9O0.